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Check out my history. I'm not deramping. I hold shares in TAP and so have a genuine interest here.
Feel free to add...
Pixalate ranking - qtr ending Sept 2018...
Change from June qtr to Sept qtr...
Global US - unchanged 1st
Global International - down 2 from 2nd to 4th
Mobile in-app - down 3 from 2nd to 5th
Video US - unchanged 6th
Video Int. - down 6 from 2nd to 8th
https://www.pixalate.com/sellertrustindex/mobile/#!global
Im with you on this one.anyway another poster that admits to holding no shares.R1 must be worth more than quotes suggest.ive not posted for ages because been sick of all you know who and the blatant manipulation of share price.im very sceptical and wonder if there are posters with more than one name .gla genuine holders.
My apologies then. Presumed you were talking to me as you replied to my post and yes, I am not a shareholder here.
Reading a news article earlier by The Drum, it mentions a deal could be very close and possible by end of the week. Not sure it would happen that soon but who knows.
As for derampers, just need to try and ignore. Fortunately my investing strategy does not subject me to many companies that have these derampers.
42Trader,
You'll get used to it..
Read posts from JinkyJ, BMAC and especially STTsBumbag .. and Brassneck from last year...
Notice the theme..
Form your own opinion..
42trader I was not referring to you, I was referring to Stt who has been on this board for the past year talking RTHM down. He has not made one positive comment out of the thousands he has posted on this and other boards. New shareholders are joining all the time and may not know that Stt is a parasite who is trying to talk their shares down and lose them money. If genuine shareholders wish to make constructive points even negative points, that is fine by me. Over the years there have been a number de-tampers who are doubtless paid in one way or another, who arrive and then disappear and they are easy to spot and need calling out. My posts may be repetitive, but I make no apology for them. People like Stt are curse on these boards. Regards
wow curlykev! Just read for first page of posts. You are very negative in your postings towards other investors and 90% of your posts are about reprimanding others. Have you ever thought of being positive or posting some news or research of the company you hold shares in? Just logging in to have a go at posters you disagree with does not contribute.
I'm not trying to talk the price down as I have no reason too. Maybe if the merger happens I will have the right to post? I do not know how they have come up with the possible offer and so made a suggestion about it. If people think it is such a bad offer you could always hedge your bet? Either way, it does not effect me.
As you are not a shareholder in R1 and only wish to talk the price down, why should anyone be interested in your observations.
rthm had 3 CEOs and 2 CFOs within a short period of time.
The last CFO left with 'immediate effect' in Sept then there was a new advisor Whitman Howard...
Aren't they Tosca's private broker/banker? Didn't WH recently produce a bullish update?
Personally I don't think there is a massive difference between the two companies.
The advantage tap has is that it has produced an increased profit yoy and pays a divi. For an investor it looks a safer bet and a stronger company but not massively.
Tap took a massive hit when the CEO was accused of bad form from a previous company and so left. The sp has steadily fallen since then.
I do think if the merger went ahead it would benefit share holders of both companies.
If anyone wants to compare the two companies via stockopedia I'm happy to forward on both reports via email.
42percenttrader@gmail.com
Is the merged company more valuable than the individual entities ???.....YES I belive it will,so not looking such a bargain for holders here atm,but looking a bit further, then it makes some sense as despite all past promisses RTHM failled to make it on it's own.....IMHO.
Presumably the 16 to 19 offer is required to make TAP the dominant company....but the offer also seriously undervalues R1 (I think most of us can agree). So we are really swapping R1 shares for an investment in TAP at a not very good rate for us. Do we really want to invest in TAP? Or is the merged company more valuable than the individual entities (based on R1's previous 'investments' then possibly not).
Even if TAP shares rose to 400p that wouldn't value R1 as very much (given that R1 pre-YUME was over 400p itself). I know, it's all historical stuff but it does make you think....especially when R1's 'profits' (stop laughing) are about to take off....certainly not guaranteed based on R1's SP alone.
Needs some additional cash on the table to seal the deal IMO...we should be able to tap TAP for some folding stuff.
1GW, I agree this is an odd deal, and must have been initiated when TAP’s SP was at a premium to RTHM’s.
Stt, interested by your comments that that ‘Tosca needed Whitman Howard to help dress the company up to sell’. What dressing up would that be? Or is this just yet another nonsense statement from you?
"There was a big drop in Oct, so I think it credible that Shares on Loan fell sharply in Oct, so who was lending out the shares?? "
should read..
"There was a big drop in Oct, so I think it credible to say that whoever was lending out the shares knew about the discussions....so who was lending out the shares?? "
My earlier comment..
"I think the talks started around H1 TU and that may have been the reason behind the CFO resigning 'with immediate effect' in Sept. Bring in a new CFO to dress up the company to sell it.."
Look at the Shares On Loan...There was a big drop in Oct, so I think it credible that Shares on Loan fell sharply in Oct, so who was lending out the shares??
I think the CFO leaving with immediate effect was because they started the discussions...
The broker Numis was replaced in Nov by Whitman Howard (WH).. It has been stated that WH are Tosca's private broker.. Tosca are the largest rthm shareholder...
So I think Tosca needed WH to help dress the company up to sell...
July 3.62m 4.89%
Aug 3.53m 4.76%
Sept 3.22m 4.33%
H1 TU
Oct 2.13m 2.87%
Nov 1.99m 2.69%
Dec 1.78M 2.41%
https://www.euroclear.com/en.html
I've been out today, but some thoughts (posted also on the other bb).
Firstly, this morning's rns's were presumably triggered by the Sky story last night. The Tap rns disclosed the potential deal in terms of intention "the terms of the combination are intended to be set such that Taptica will issue 16 new Taptica shares for each 19 RhythmOne shares held by RhythmOne shareholders" but the R1 rns said only that it was a potential all-share offer.
Secondly, there was no statement of any commitments of support having been received from R1 or Tap shareholders. Maybe that was just because the deal wasn't ready to be announced (in terms of drafting the press release describing the benefits) but maybe it was because no R1 shareholders are prepared to give such commitments.
Given the ratio and the timing of Tap stopping its own share buyback (bought only on 13th December, having said on 12th December that there were no acquisition conversations ongoing) it strikes me as likely that R1 reactivated discussions with Tap in mid-December on the basis of an exchange ratio that was based on a £3+ TAP price (TAP price crashed from over £3 to under £2 on 4th December).
With Tap at £3 and R1 at under £2, the 16:19 ratio would have indicated a good premium for R1 shareholders.
So it strikes me as reasonably credible that the parties have been stuck for some time arguing about whether that ratio should be revisited given the crash in the Tap shareprice, or whether that crash should be regarded as temporary mispricing due to the Tap newsflow (initially loss of CEO, but then doubts as to reason for halt to share buyback).
Leaking to Sky was perhaps thought by 1 or both parties to be a way to try to force the issue. Leak the story and see if that is enough to rebase the Tap share price given it provides a credible reason for the halt to the buyback.
Tap has bounced a bit today, but nowhere near the level needed to make the ratio look good to R1 shareholders given the recent shareprice.
If the Tap price continues to rise, then the offer might be confirmed, with major R1 shareholder support, at the indicated exchange rate. But if it doesn't make much progress then a change to the ratio or addition of some cash might become more likely.
In any event, I think there is quite a lot of time to go before we get to shareholder votes. I would think it quite likely that we will at least get Tap full-year results (March?) and probably R1 full-year results as well, or at least an R1 full-year TU. So plenty of time for market-moving news before the vote.
shareholders in TAP....R+M has 7%
16 TAP shares are offered for 19 RTHM. Yesterday, RTHM was at 187.20, so 19 of them were then worth £35.57. TAP shares were then at 167, so 16 were worth £26.72 - that is 25% less. Why would anyone sell a RTHM share at 25% less than the market price?
Now 16 TAP shares are worth £30.80 and 19 RTHM shares are worth £31.24, so TAP investors are still expecting to profit, but RTHM investors have already lost 12%. Buying more RTHM shares now would be an expensive way of getting into TAP, so I don't understand the thinking of those who have suggested doing this. Buying TAP shares to get the benefit of RTHM when the merger goes through (assuming it does, of course) would make more sense, but you'd have to believe that the present price of TAP will stick.
Calculations example correct? If you own 10k shares in R1 then after the merge you’d have roughy 8.4k shares in TAP? If this is correct and the TAP sp were to sky rocket as a result of the merger, it wouldn’t exactly be a bad thing for your investment??
we get 16 of theirs for 19 of ours,,f;;k knows who negotiate this deal probably Theresa May,,iam not against the merger,one for one,would have been a good deal,,they pay a divi and the P/E is 9
What is the price that’s being offered? They haven’t mentioned a price have they?
The sharp rise in the TAP share price today and the fall in RTHM suggests that this is not a good deal for investors in RTHM. RTHM has been on an upward slope, but TAP has been downwards. The RTHM balance sheet also looks stronger, with goodwill and intangibles being ‘only’ 75% of net assets, compared with 95% for TAP. Note too that whereas the RTHM auditor’s report is 4 pages long, that for TAP is just 3 paragraphs. TAP will be much stronger if this goes through, so why the low price being offered?
Why would anyone who has no shares in this company, post six times so far today, not one of which had a positive thing to say. Maybe we are beginning to understand why the little creep s here.